Crypto Biz: Circle stock defies Wall Street and digital asset selloff

The USDC issuer's stock is soaring despite a market selloff as stablecoins expand into traditional finance. Meanwhile, Canaan boosts BTC reserves and Wells Fargo eyes crypto services.

A selloff in both Wall Street and crypto markets hasn’t slowed Circle’s relentless rise. The stablecoin issuer’s stock has more than doubled since early February, with Bernstein analysts expecting further gains as stablecoins continue expanding beyond crypto’s more speculative use cases.

The technology is already moving deeper into traditional finance. UK insurance giant Aon recently piloted stablecoin payments for insurance premiums with Coinbase and Paxos, a move that could make cross-border premium payments faster and more efficient.

Elsewhere, Bitcoin (BTC) miner Canaan is taking a contrarian approach to treasury management, increasing its BTC holdings even as many competitors sell. And in traditional finance, Wells Fargo has filed a trademark for crypto-related services, suggesting large banks are still quietly preparing for deeper involvement in digital assets.

Circle stock surges on stablecoin tailwinds

Shares of stablecoin issuer Circle are rallying sharply in 2026 as Wall Street warms to the long-term growth story behind digital dollars. Analysts at Bernstein recently reiterated an “Outperform” rating on the stock, setting a $190 price target - roughly 60% above current levels.

Circle’s stock price has already more than doubled since early February and is up roughly 49% year-to-date, outperforming both the S&P 500 index and 100 index during the same period.

Bernstein’s bullish outlook hinges on accelerating stablecoin adoption across payments, financial infrastructure and onchain settlement. As the issuer of USDC (USDC), the world’s second-largest US dollar-pegged stablecoin, Circle is increasingly viewed as a key beneficiary of the industry’s push into mainstream finance.